Benami transaction act

Nitish Agrawal (CA) (810 Points)

25 February 2017

Does puchasing property out of funds taken as unsecured loans (from Brother) amounts to benami transaction

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 26 February 2017

No, provided purchased in own name.

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sidhigiri (Ipcc) (236 Points)
Replied 07 June 2018

if purchased of property through gift received from relatives is covered under benami act?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 07 June 2018

No, provided the gifted property was not 'benami' earlier.......

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sidhigiri (Ipcc) (236 Points)
Replied 07 June 2018

sir it is necessary to make loan agreement in case of loan received from relatives through banking channel...

sidhigiri (Ipcc) (236 Points)
Replied 07 June 2018

sir it is necessary to make loan agreement in case of loan received from relatives through banking channel...

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 07 June 2018

Department requires loan confirmation, be it loan agreement or just confirmation letter.

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